Section 48 in SRI JAGADHGURU MURUGARAJENDRA UNIVERSITY ACT, 2020
48. University Endowment Fund.- (1) The University shall establish a
University Endowment Fund having such funds as may be determined by theSponsoring Body which can include donations and other funds received from time totime.(2)The University shall have the power to invest the University EndowmentFund in a manner as may be specified by the Statutes.(3)The University Endowment Fund is a self-imposed fund that the Universitydesires to maintain voluntarily and invest it responsibly to protect itself from financialchallenges that may arise on account of pursuing social objectives and or unforeseencircumstance.(4)The University may transfer any amount from the General Fund or thedevelopment fund to the University Endowment Fund. Excepting in the event ofdissolution of the University, in no other circumstances can any monies betransferred from the University Endowment Fund for other purposes.(5)Eighty percent of the incomes received from the University EndowmentFund shall be used for the purposes of development or general work of theUniversity. The remaining twenty percent shall be reinvested into the UniversityEndowment Fund.
